Mumbai, Oct. 5 -- Ola Electric promoter Bhavish Aggarwal has pledged a 4.32 per cent stake in the company to fund his participation in its proposed rights issue of up to Rs 1,000 crore, the company said in an exchange filing on Sunday.

The company said the pledge is being made solely to fund Aggarwal's subscription to the rights issue and that no shares are being sold as part of the transaction.

"Ola Electric promoter Bhavish Aggarwal has pledged 4.32% stake in the company, to participate in the rights issue approved by the Board as disclosed in the Draft Letter of Offer filed on 28 September 2026," the company said.

It added that there are currently no other pledges on Aggarwal's securities and that the promoter would participate in t...